(UPM Biofuels, Helsinki, 8 September 2016 at 14:00 EET) - Boskalis, the leading global dredging and marine expert, and GoodFuels Marine, the leading provider of sustainable marine biofuels to the global commercial shipping fleet, today announced to have performed successful live tests on a sustainable wood-based drop-in biofuel called UPM BioVerno. The tests were conducted on a vessel working on the Dutch Marker Wadden nature restoration project in the middle of the Markermeer lake.

The fuel supplied by Finnish UPM Biofuels is the first ever biofuel derived from wood residue used in a marine fleet.

Boskalis vessel "EDAX", a 1696 deadweight tonne (DWT) cutter suction dredger, has successfully used the fuel in bio/fossil blends going up to 50% as it worked on the first phase of the Marker Wadden project in the first half of 2016. This resulted in a CO2 saving of 600Mt over the operating period.

The €33m project includes the construction of an island with underwater landscaping to restore the Markermeer's delicate ecosystem.

The testing of this fuel marks yet another landmark development for the marine biofuels consortium that was announced in October last year by GoodFuels Marine, Boskalis and Wärtsilä, the global supplier of engines and power systems to the marine industry.The consortium was launched with the mission to spearhead a two-year pilot programme to accelerate the development of truly sustainable, scalable and affordable marine biofuels. All fuels being "live" tested on board of Boskalis vessels - including UPM BioVerno - were first extensively ground tested at the Wärtsilä lab in Vaasa, Finland.

Sustainable marine biofuels offer ship operators a way to reduce a vessel's CO2 emissions by 80-90%. They eliminate SOx emissions, cut NOx emissions by 10% and reduce particulate matter (PM) expelled in a ship's exhaust plume by 50%. Current forecasts predict that marine biofuels could make up 5 - 10% of the marine fuel mix by 2030, significantly contributing towards the reduction of the shipping industry's carbon footprint.

"We are extremely proud to add UPM Biofuels as a new partner in our ground-breaking test program with Boskalis and Wärtsilä. This co-operation will help to further accelerate supply of truly sustainable biofuel to the global maritime industry," says Dirk Kronemeijer, CEO of GoodFuels Marine.

"It is extremely encouraging to see GoodFuels Marine leading the way - together with Boskalis - towards the use of more sustainable, advanced biofuels on Dutch ships. This project is a true example for both the shipping and the biofuels industry of how to apply waste and residue-based biofuels," comments Maarten van Biezen, Mobility Policy Director at Dutch NGO Natuur & Milieu

"We are delighted to collaborate with GoodFuels, Boskalis and Wärtsilä on this initiative. Our renewable UPM BioVerno -diesel is a great product also for marine use - it is a sustainable and competitive fuel with several advantages. Its raw material is wood-based residue, and it reduces both greenhouse gas and exhaust emissions significantly. As the Netherlands is a key market in Europe driving decarbonisation measures forward, it is very significant for UPM Biofuels to be part of this initiative," says Sari Mannonen, Head of UPM Biofuels.

About GoodFuels MarineGoodFuels Marine is a Netherland's based global pioneer in sustainable marine fuels. The company has created a one-stop shop for marine industry customers integrating the entire supply chain for sustainable marine biofuels. From feedstock to tank, GoodFuels Marine's proposition covers elements of sourcing feedstock and ensuring its 100% sustainability, the production and refining, the global distribution, quality assurance and marketing programs with ports, governments and end clients. GoodFuels Marine has its operations RSB certified.

GoodFuels Marine is part of the GoodNRG Group, which is active under various labels and companies in sales, marketing, trading, R&D and production of truly sustainable fuels for the transport segments for which biofuels is one of the best or only viable long-term alternative. Learn more about GoodFuels at www.goodfuels.com

About BoskalisRoyal Boskalis Westminster N.V. is a leading global services provider operating in the dredging, maritime infrastructure and maritime services sectors. The company provides creative and innovative all-round solutions to infrastructural challenges in the maritime, coastal and delta regions of the world with services including the construction and maintenance of ports and waterways, land reclamation, coastal defense and riverbank protection. In addition, Boskalis offers a wide variety of marine services and contracting for the offshore energy sector including subsea, heavy transport, lifting and installation (through Boskalis, Dockwise and Fairmount) and towage and salvage (through SMIT). Furthermore, Boskalis has a number of strategic partnerships in harbor towage and terminal services (Keppel Smit Towage, SAAM SMIT Towage and Smit Lamnalco). With a versatile fleet of 1,000 units Boskalis operates in around 75 countries across six continents. Excluding its share in partnerships, Boskalis has approximately 8,500 employees. www.boskalis.com

About UPM BiofuelsUPM plans to become a major player in high quality, advanced biofuels for transport. Biofuels are an essential part of the Biofore strategy. The innovative wood-based biofuels developed by the company and their production technologies are part of a sustainable future. UPM's biofuels are frontrunners in quality, usability and sustainability. They will significantly decrease greenhouse gas and exhaust emissions compared to fossil fuels. www.upmbiofuels.com

About UPMThrough the renewing of the bio and forest industries, UPM is building a sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Paper Asia, UPM Paper ENA and UPM Plywood. Our products are made of renewable raw materials and are recyclable. We serve our customers worldwide. The group employs around 19,600 people and its annual sales are approximately EUR 10 billion. UPM shares are listed on NASDAQ OMX Helsinki. UPM - The Biofore Company - www.upm.com

About WärtsiläWärtsilä is a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers.

In 2015, Wärtsilä's net sales totalled EUR 5 billion with approximately 18,800 employees. The company has operations in over 200 locations in more than 70 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.

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